Goldman Sachs (GS) CEO says as the quarter progressed, the macro environment started to weigh on sentiment
Goldman Sachs' CEO highlights that the macro environment is impacting market sentiment and execution in IPOs.
ECB's Vujcic says energy prices show they are currently closest to ECB basic scenario
New EU competition official Whelan will hold the line on the big tech dispute despite pressure from US President Trump, according to FT
Goldman Sachs (GS) CEO says as the quarter progressed, the macro environment started to weigh on sentiment
Hungarian PM-Elect Magyar says will not stand in the way of EUR 90bln loan to Ukraine; it is in Hungary's interest to join the euro
US House Democrats are planning to force a new Iran war powers vote on Thursday, Politico reports citing sources
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- Market conditions tempered execution for IPOs and sponsor activity broadly, GS believes that activity levels will rebound once conditions stabilize.
- Feels good about the long term opportunity in private credit and its ability to deliver attractive risk adjusted returns for clients; 30yr track record, "rigorous underwriting", net inflows of more than 7% into largest non-traded BDC this quarter, and patient deployment via predominantly institutional drawdown structures.
- Spreads are becoming more lender-friendly in private credit.
- CEO says it has significant runway to further scale private credit business toward our USD 300bln target
CFO:
- Accelerating investments in cloud migration and in the accuracy, completeness, and timeliness of its data.
- Will continue to dynamically deploy capital to support client franchise, while also returning capital to shareholders.
While current conditions may be challenging, management is optimistic about the private credit sector, pointing to strong client inflows and a robust growth strategy, which could bode well for risk-adjusted returns as conditions stabilize.
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